The Bombay Stock Exchange's equity benchmark, Sensex, achieved a fresh lifetime high of 72,720.96, while the Nifty reached a record high of 21,928.25. Earlier in the day, the 30-share BSE Sensex had surged by 492 points to 72,213.89 in early trade.
Infosys had surged more than 6% in early trade despite reporting a lower-than-expected 7.3% fall in net profit in the December quarter, attributed to sluggish demand from clients. According to a Hindustan Times report, the company also cut its annual sales forecast.
Tata Consultancy Services climbed nearly 4% after the most prominent software exporter reported an 8.2% growth in net income for the December quarter at Rs 11,735 crore. This growth was driven by a significant expansion in the home market, which offset, to a large extent, the impact of a 3% decline in the US market.